Oregon Public Broadcasting

An Oregon business played a key role in President Obama’s speech to Wall Street Monday.

Central Oregon correspondent Ethan Lindsey reports.

He didn’t mention Bend or Oregon. But when the President talked about maintaining free trade by invoking trade provisions, it clearly was directed at Bend-based Les Schwab Tire Centers, among others.

Barack Obama: “No trading system will work if we fail to enforce our trade agreements, those that have already been signed. So, when as happened this weekend, we invoke provisions of existing agreements, we do so not to be provocative or to promote self-defeating protectionism.”

Over the weekend, the Administration imposed a new tariff on non-brand-name tires imported from China.

Non-brand-name tires account for the vast majority of the tires that Les Schwab sells.

In a statement, Les Schwab chief executive Dick Borgman reacted to the tariff. He said his company is “disappointed” with the decision and noted the tariff could increase the cost of tires, when consumers are already hurting.